Marijuana economy to hit $44 billion per year by 2020, researchers predict

Legal cannabis and medical marijuana sales and ancillary economic activity will total $44 billion per year by 2020, a new analysis predicts.

Last year, Americans bought more legal pot than they did Girl Scout Cookies.

The estimates comes from Marijuana Business Daily, courtesy of their new, 2016 Marijuana Business Factbook. The Factbook predicts the cannabis industry’s annual economic impact will grow from $14-$17 billion in 2016 to $22-$44 billion in four years. The broad estimates are subject to numerous factors, chief among them several state-level recreational legalization votes in 2016.

Legal pot sales could climb to $8 billion by 2018 and $11 billion by 2020. MJ Business Daily warned “any number of factors could slow growth, such as the election of an anti-cannabis president or a backlash by communities.”

California, Nevada, Massachusetts will likely vote on recreational legalization in 2016, while Florida and Ohio could legalize medical marijuana. There are 35 states with medical pot laws, while four states plus Washington DC have legalized pot for adults 21 and over.

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